Corporate governance

Guidelines which creates trust

Corporate governance is the system, through which owners, direct or indirect, controls the company. Within Axis, governance, management and control is divided between shareholders, the board and the CEO, in accordance with laws, regulations and instructions.

Axis is a public Swedish limited company based in Lund, Sweden. In 2000, Axis was listed on the Stockholm Stock Exchange and is now located on Nasdaq Stockholm’s main market.

Axis is governed by the Swedish Companies Act and Swedish stock exchange rules. Axis has not been guilty of any breaches of the rule set of Nasdaq Stockholm, nor of good conduct on the stock exchange market.

Axis applies the Swedish code for corporate governance (“the Code”). Axis does not diverge from the Code, other than in the regard specifically stated below. Information about the Code is available at www.bolagsstyrning.se. The report of corporate governance describes in what ways corporate governance have been conducted at Axis throughout the business year. 

Deviations from the Code

In light of the ownership structure in Axis where Canon Inc. for some time owns 86.6 percent of the shares and votes, the 2016 Annual General Meeting (AGM), like the 2015 AGM, did not appoint a nomination committee. The company thus deviates from the Code’s rules with regard to a nomination committee. The duties of the nomination committee under the Code will be performed instead, where appropriate, by Axis’ largest shareholder Canon Inc. or by the company’s board of directors. As far as election and remuneration of auditors is concerned, the board has appointed a special group that prepares the procurement process. This group has special experience in questions relating to appointment and remuneration of auditors, which is considered to be of benefit to Axis and raises the quality level.